In a press release, SumUp announced their latest loan backing from major investors. The €330 million will allow the company to continue to expand growth with merchants in its 31 global markets.
Inc. 5000 called SumUp ‘Europe’s fastest growing startup’. Further, it has a consistent 120% year-over-year growth record. Each day 4,000 new companies around the world join the platform.
“As one of the fastest growing technology companies in the world, this cash injection will significantly accelerate the growth of our customer base, enhance SumUp’s technology leadership position and drive the development of new services,” said Marc-Alexander Christ, co-founder of SumUp.
Specifically, the company plans to expand its product suite through product development and acquisitions with this latest loan.
With its 1.5 million strong user base, the company is planning a lucrative €200 million in revenue for 2019.
“We believe in affordable, simple and reliable technology that empowers small businesses all over the world to be successful doing what they love,” said Christ.